The dollar is gaining strength, but the rigidity of the US stimulus package reduces gains
Economy News _ Baghdad
The dollar held gains against most currencies on Monday, as a new stock slump led to a stampede towards liquidity, but fell against the euro and the yen, as US lawmakers failed to pass a stimulus package to combat the Corona virus.
Lawmakers in Washington were unable to pass the stimulus measures on Sunday, and Republicans and Democrats debated over the details of the proposed $ 1 trillion spending package.
The dollar fluctuated against the yen between the gain and the loss, but fell in the most recent trading 0.6 percent to 110.7.
The dollar initially rose against the euro, reaching its highest price since April 2017, and then reducing its losses, to tumble 0.4 percent to $ 1.0737 per euro.
But the greenback strengthened its gains against other currencies.
The dollar rose 0.1 percent against the pound sterling to 1.1657 dollars, approaching its highest price since at least 1985.
The dollar approached a multi-year high against the Australian and New Zealand dollars as the economic costs of home insulation in New Zealand shares pushed them to their biggest ever decline in a day.